Areas Served: Chesterfield, Darlington, Dillon, Florence, Marion and Marlboro Counties
Pee Dee Regional COG operates a $1 million Revolving Loan Fund for small businesses, using state and Federal funding.
Loans of up to $175,000 are made to small businesses that create jobs.
Loans are below market rate and are intended to supplement what private lenders can contribute to a project.
Loans have been made to 22 businesses and industries.
Loan Guidelines – Have primary financing commitment from bank or other lender (at least 67% of total capital needed) – Your project must create new or retain permanent jobs, about 1 job per $10,000 to $15,000 loaned.
– Provide 10% minimum equity contribution – Locate your business in one of the following six Pee Dee Area counties in South Carolina: Chesterfield, Darlington, Dillon, Florence, Marion, Marlboro – Loan amounts $10,000 $175,000 (up to $225,000 in special circumstances) – Loan amount cannot exceed 33% of total project coSt.
Contact InformationPee Dee Regional COG
Address: PO Box 5719
City: Florence
State: South Carolina
Website:
http://www.peedeecog.org/loanfund.html
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